Fifteen-year-old HealthGrades, a health care ratings company based in Denver, has announced two related senior management changes: founder and CEO Kerry Hicks will become chair of HealthGrades’s board of directors; meanwhile, current chair Roger Holstein will become CEO, assuming responsibility for the company’s day-to-day operations.
HealthGrades was acquired by an affiliate of the private equity firm Vestar Capital for about $294 million in cash in 2010.
HealthGrades today announced two senior management changes, both effective immediately. The company is the leading online provider of comprehensive information about physicians and hospitals, with more than 200 million visitors annually.
Kerry R. Hicks, founder and current chief executive officer of HealthGrades, will assume the chairmanship of the HealthGrades Board of Managers, a position currently held by Roger C. Holstein. In his role as chairman, Mr. Hicks will step back from day-to-day operations to focus on broad company strategy, the impact of public policy on the industry, and building key external relationships.
Mr. Holstein will become CEO of HealthGrades and assume responsibility for the daily operations of the company. Mr. Holstein, a managing director with Vestar Capital Partners, had held the chairmanship since mid-2010, when an affiliate of Vestar acquired HealthGrades. He has extensive healthcare information services experience, most notably as the former CEO at WebMD and as a board member of Press Ganey.
“I founded HealthGrades 15 years ago, with a conviction that healthcare quality matters and a vision that patient access to meaningful healthcare information could improve the healthcare experience for both consumers and providers,” said Mr. Hicks. “That vision has become a reality, and our company is reshaping the way healthcare decisions are made.”
“We have enormous tailwinds at our back and now is the time to capitalize upon them,” Mr. Hicks said. “Roger has unique skills, relevant experience and a track record of success in consumer, digital media and healthcare services businesses. I have worked with him closely since Vestar’s acquisition of HealthGrades, and I am convinced that he is the right person to lead the company during the next phase of rapid expansion in our business.”
“Kerry and the management teams at HealthGrades and our CPM subsidiary have built a groundbreaking digital information platform, one which not only helps 200 million consumers make informed decisions about doctors and hospitals, but also provides our sponsors with an efficient, effective and accountable means to analyze, plan, execute, and measure the impact of their communication programs,” said Mr. Holstein.
Mr. Holstein will remain a director of HealthGrades and will continue as a partner at Vestar. He will also continue to serve on the boards of two other Vestar portfolio companies in the healthcare sector, as a director of Press Ganey and as the chairman of DynaVox Corporation.
HealthGrades, headquartered in Denver, Colorado is a leading provider of comprehensive information about physicians and hospitals. More than 200 million consumers use the HealthGrades websites to research, select, and connect with a physician or hospital, and use its comprehensive information about clinical outcomes, patient satisfaction, and patient safety to make more informed healthcare decisions. HealthGrades through its subsidiary, CPM, serves as a growth and business development partner for healthcare organizations. We fuel hospital growth with smarter strategies in customer relationship management (CRM), physician relations, planning and forecasting, strategic marketing, and population health management. Find more information about our products and services at HealthGrades.com. Follow us on Twitter (@HealthGrades) and Facebook for news and updates.